The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.15 - Manufacture of bearings, gears, gearing and driving elements
65 jobs Number of planned job losses
Announcement Date
20 January 2014
Employment effect (start)
Foreseen end date
Description
Moventa Gears, manufacturer of industrial and wind turbine gears, has announced 65 redundancies from its staff in Finland. The company has plants in four locationa and has concluded negotiations on the cuts.
Moventas gears has approx. 570 employees in Finland and 960 globally. The announced redundancies focus on non-production personnel. The company cites long-term poor demand for its products as the reason for the lay-offs. It has not announced the geographic breakdown of the redundancies, which will include both dismissals, retirements and discontinued fixed-term positions. Moventas is also temporarily laying off some of its personnel.
Moventas was acquired by Clyde Blowers in 2011 and has restructured several times during the recent years, most recently in 2012 (see FS19917).
Sources
20 January 2014: Helsingin Sanomat
20 January 2014: Taloussanomat
20 January 2014: YLE News
Citation
Eurofound (2014), Moventas Gears, Internal restructuring in Finland, factsheet number 76469, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76469.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
